CRISC Certified in Risk and Information Systems Control – Question123 - CRISC Certified in Risk and Information Systems Control

You are the project manager of your project. You have to analyze various project risks. You have opted for quantitative analysis instead of qualitative risk analysis. What is the MOST significant drawback of using quantitative analysis over qualitative risk analysis?

A. lower objectivity
B. higher cost
C. higher reliance on skilled personnel
D. lower management buy-in

Correct Answer: B

Explanation:

Explanation: Quantitative risk analysis is generally more complex and thus is costlier than qualitative risk analysis.
Incorrect Answers:
A: Neither of the two risk analysis methods is fully objective. Qualitative method subjectively assigns high, medium and low frequency and impact categories to a specific risk, whereas quantitative method subjectivity expressed in mathematical “weights”.
C: To be effective, both processes require personnel who have a good understanding of the business. So there is equal requirement of skilled personnel in both.
D: Quantitative analysis generally has a better buy-in than qualitative analysis to the point where it can cause over-reliance on the results. Hence this option is not correct.